GCC investors to revive Bahrain’s stalled market project

March 31, 2014 9:32 am

A group of investors from the GCC region have pledged to help revive the modernisation of Bahrain’s Manama Central Market project, which stalled as a result of the 2011 unrest, Gulf Daily News has reported. Investment firm, Tashgeel for Commercial Buildings Management was earlier given a three-month deadline to come up with designs to revamp the market or have its contract terminated. Master plans for the BD200m project have since been presented to municipalities and urban planning affairs minister, Dr Juma Al Ka’abi. “Tashgeel has been facing problems since being awarded the contract in 2011 because there was no interest from investors, local, GCC or international to put their money in what they considered was an unattractive area that has been badly affected by the unrest,” said Dr Al Ka’abi. The project is envisaged to include business, residential, shopping and leisure spaces. Four 28-storey office and shopping towers, a new central market, car parking facilities, a five-star hotel, heritage village and a park are also part of the plans.